FFR on Nasdaq
FF EAI Robotics Ecosystem Inc.
FF EAI Robotics Ecosystem Inc. is an American finance services company that raised $9.6 million in 2025 (SEC Form D).1 It is headquartered in El Segundo, California.1 Its shares trade on Nasdaq under the symbol FFR.1
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Last updated Oct 21, 2026.
Overview
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- TickerFFR on Nasdaq1
- IndustryFinance Services1
- HeadquartersEl Segundo, California1
- Incorporated inDE2
- Business address1990 E. Grand Avenue, El Segundo, Ca 902452
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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Inc. (Nasdaq: FFAI), which is currently anticipated to close before March 31, 2026.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2022
Where the money goes
Where each dollar of revenue went, fiscal 2022
- Research and development90¢$4.5M
- Other costs10¢$490.9K
- Income tax0¢$6.5K
Out of $5.0M in revenue.54 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative | $8.8M | $4.2M |
| Research and development | $184.8K | $1.2M |
| Credit loss expense - short-term note receivable | $4.2M | $360.0K |
| Total expenses | $13.2M | $5.8M |
| LOSS FROM OPERATIONS | -$13.2M | -$5.8M |
| Gain on change in fair value of warrant liabilities | -$127.3K | -$415.8K |
| Gain on change in fair value of derivative liabilities | -$191.1K | |
| Gain on change in fair value of convertible debt | -$37.7K | |
| Interest expense | $988.5K | $908.9K |
| Interest income | -$742.0K | -$128.8K |
| Loss on issuance of convertible debt | $91.9K | $358.3K |
| Net loss on digital assets | $3.6M | |
| Gain on voluntary conversion of convertible debt into common stock | -$56.0K | |
| Loss on debt extinguishment | $57.0K | |
| Loss on monthly redemptions of convertible debt into common stock | $208.9K | |
| Gain on settlements of accounts payable | -$348.3K | |
| Other expense (income), net | $2.3K | -$1.9K |
| Total other expense (income), net | $3.8M | $391.1K |
| LOSS BEFORE PROVISION FOR INCOME TAXES | -$17.0M | -$6.2M |
| PROVISION FOR INCOME TAXES | $0 | $6.3K |
| NET LOSS FROM CONTINUING OPERATIONS | -$17.0M | -$6.2M |
| Loss on disposal of discontinued operations, net of tax | -$100.0K | |
| LOSS FROM DISCONTINUED OPERATIONS | -$100.0K | |
| NET LOSS | -$17.0M | -$6.3M |
| Deemed dividend arising from preferred stock and warrant down-round provision | -$2.6M | -$87.6K |
| Net loss attributable to shareholders | -$19.5M | -$6.3M |
| Net loss per common share, basic - continuing operations | -$8 | -$17 |
| Net loss per common share, diluted - continuing operations | -$8 | -$17 |
| Net loss per common share, basic - discontinued operations | -$0 | |
| Net loss per common share, diluted - discontinued operations | -$0 | |
| Total net loss per common share, basic | -$8.11 | -$17.55 |
| Total net loss per common share, diluted | -$8.11 | -$17.55 |
| Weighted-average number of shares outstanding, basic | 2.4M shares | 361.6K shares |
| Weighted-average number of shares outstanding, diluted | 2.4M shares | 361.6K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 2 fiscal years (annual) or 2 quarters (quarterly), latest first.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Cash and cash equivalents | $19.3M | $1.2M |
| Digital assets | $10.3M | |
| Prepaid expenses and other current assets | $1.0M | $1.5M |
| Short-term notes receivable, net of allowance for credit losses of $4.6 million and $360,000 at December 31, 2025 and 2024, respectively | $343.1K | $2.0M |
| Total current assets | $31.0M | $4.7M |
| Intangible assets | $314.7K | |
| Total non-current assets | $325.1K | $2.0K |
| Total Assets | $31.3M | $4.7M |
| Accounts payable | $1.3M | $1.6M |
| Accrued expenses and other current liabilities | $136.2K | $170.2K |
| Warrant liabilities | $141.9K | $269.2K |
| Convertible debt | $142.2K | |
| Total current liabilities | $3.3M | $2.0M |
| Common stock, $0.001 par value; 225,000,000 shares authorized; 5,160,383 and 736,431 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $69.7K | $65.3K |
| Additional paid-in capital | $136.1M | $120.0M |
| Accumulated deficit | -$140.0M | -$123.1M |
| Total Stockholders Equity | $28.0M | $2.7M |
| Total Liabilities & Stockholders Equity | $31.3M | $4.7M |
| Short-term note receivables net of allowance for credit losses | $4.6M | $360.0K |
| Preferred stock, shares authorized | 15.0M shares | |
| Common stock, par value | $0.00 | $0.00 |
| Common stock, shares authorized | 225.0M shares | 225.0M shares |
| Common stock, shares issued | 5.2M shares | 736.4K shares |
| Common stock, shares outstanding | 5.2M shares | 736.4K shares |
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Cash and cash equivalents | $19.3M | $1.2M |
| Digital assets | $10.3M | |
| Prepaid expenses and other current assets | $1.0M | $1.5M |
| Short-term notes receivable, net of allowance for credit losses of $4.6 million and $360,000 at December 31, 2025 and 2024, respectively | $343.1K | $2.0M |
| Total current assets | $31.0M | $4.7M |
| Intangible assets | $314.7K | |
| Total non-current assets | $325.1K | $2.0K |
| Total Assets | $31.3M | $4.7M |
| Accounts payable | $1.3M | $1.6M |
| Accrued expenses and other current liabilities | $136.2K | $170.2K |
| Warrant liabilities | $141.9K | $269.2K |
| Convertible debt | $142.2K | |
| Total current liabilities | $3.3M | $2.0M |
| Common stock, $0.001 par value; 225,000,000 shares authorized; 5,160,383 and 736,431 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $69.7K | $65.3K |
| Additional paid-in capital | $136.1M | $120.0M |
| Accumulated deficit | -$140.0M | -$123.1M |
| Total Stockholders Equity | $28.0M | $2.7M |
| Total Liabilities & Stockholders Equity | $31.3M | $4.7M |
| Short-term note receivables net of allowance for credit losses | $4.6M | $360.0K |
| Preferred stock, shares authorized | 15.0M shares | |
| Common stock, par value | $0.00 | $0.00 |
| Common stock, shares authorized | 225.0M shares | 225.0M shares |
| Common stock, shares issued | 5.2M shares | 736.4K shares |
| Common stock, shares outstanding | 5.2M shares | 736.4K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$17.0M | -$6.3M |
| Loss from discontinued operations, net of tax | -$100.0K | |
| Loss from continuing operations | -$17.0M | -$6.2M |
| Stock-based compensation | $268 | $128.1K |
| Change in fair value of warrant liabilities | -$127.3K | -$415.8K |
| Change in fair value of derivative liabilities | -$191.1K | |
| Gain on voluntary conversion of convertible debt | -$56.0K | |
| Legal expenses deducted from issuance of convertible debt | $20.0K | |
| Issuance of common stock to consultant | $325.6K | |
| Provision for credit losses of short-term note receivable | $4.2M | $360.0K |
| Accrued interest on short-term note receivable | -$617.9K | -$113.3K |
| Interest expense | $988.5K | |
| Net loss on digital assets | $3.6M | |
| Payments made with digital assets | $40.0K | |
| Loss on monthly redemptions of convertible debt into common stock | $208.9K | |
| Accretion of discount on convertible debt | $615.5K | |
| Loss on debt extinguishment | $57.0K | |
| Loss on issuance of convertible debt | $91.9K | $358.3K |
| Gain on settlement of accounts payable | -$348.3K | |
| Loss on change in fair value of convertible debt | -$37.7K | |
| Fair value of warrant modification for professional services | $12.0K | |
| Prepaid expenses and other assets | $462.4K | -$219.8K |
| Accounts payable | -$350.2K | -$445.1K |
| Accrued expenses and other current liabilities | $1.4M | -$118.7K |
| Net cash used in operating activities | -$7.0M | -$6.3M |
| Issuance of short-term note receivable | -$1.9M | -$2.3M |
| Purchase of digital assets | -$16.5M | |
| Sales of digital assets | $2.6M | |
| Purchase of intangible assets | -$93.4K | |
| Net cash provided by investing activities - discontinued operations | $350.0K | |
| Net cash used in investing activities | -$15.9M | -$1.9M |
| Proceeds from the issuance of convertible debt | $200.0K | $1.5M |
| Proceeds from issuance of common shares and prefunded warrants in public offering | $3.1M | |
| Repayment of convertible debt | -$132.0K | -$499.0K |
| Repayment of promissory notes | -$4.4M | -$2.0M |
| Proceeds from warrant exercises | $416.0K | |
| Proceeds from issuance of promissory notes | $3.4M | $2.0M |
| Net cash provided by financing activities - continuing operations | $41.0M | $9.0M |
| Net cash provided by financing activities | $41.0M | $9.0M |
| Net change in cash and cash equivalents | $18.2M | $772.8K |
| Interest | $1.0M | $92.8K |
| Taxes | $5.5K | |
| Voluntary conversion of convertible debt into preferred stock | $1.2M | |
| Monthly redemption of convertible debt into common stock | $903.3K | |
| Voluntary conversion of convertible debt into common stock | $735.1K | |
| Deemed dividend arising from warrant and preferred shares down-round provision | $2.6M | $87.6K |
| Exchange of derivative liability for warrant and convertible debt | $675.6K | |
| Restricted share settlements issued to former board members | $142.4K | |
| Warrants reclassified to equity from liabilities | $197.5K | |
| Warrants reclassified to liabilities from equity | $262.3K | |
| Issuance of warrants to placement agent | $5.3M | |
| Issuance of common stock for the conversion of Series A-2 and Series A-3 preferred shares | $9.3M |
No quarter-by-quarter statement was filed.
Corporate structure
FF EAI Robotics Ecosystem Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of FF EAI Robotics Ecosystem Inc.
- ALPHA CAPITAL ANSTALT Filed SCHEDULE 13G/A on FF EAI Robotics Ecosystem Inc., latest Jan 29, 2026 (4 filings since May 27, 2022)
- FARADAY FUTURE INTELLIGENT ELECTRIC INC. Filed SCHEDULE 13D/A on FF EAI Robotics Ecosystem Inc., latest Nov 19, 2025 (2 filings since Nov 12, 2025)
- SABBY MANAGEMENT, LLC Filed SC 13G/A on FF EAI Robotics Ecosystem Inc., latest Jan 5, 2022 (2 filings since Dec 6, 2021)
- FF EAI Robotics Ecosystem Inc. El Segundo, California
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What FF EAI Robotics Ecosystem Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $19.3M10 Dec 31, 2025 | $1.2M10 Dec 31, 2024 | +1545.9% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Indefinite-lived intangibles (excluding goodwill) | $314.7K10 Dec 31, 2025 |
Properties, in its own words
None.. The Company is currently essentially “virtual.”
Item 2 of the 10-K filed Mar 30, 2026.3
Leadership
Who has led FF EAI Robotics Ecosystem Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerMichael S. Poirier May 27, 2020 to Aug 4, 202212
- Chief executive officerAndrew J. Ritter Jun 27, 2018 to May 19, 202013
- Chief executive officerMichael D. Step Jun 24, 2015 to Jan 25, 201814
- ChairMichael S. Poirier May 27, 2020 to Aug 4, 202212
- ChairIra E. Ritter Jun 24, 2015 to Jan 25, 201815
- PresidentAmy S. Broidrick Dec 10, 2021 to Aug 4, 202216
- PresidentMichael S. Poirier May 27, 2020 to Apr 21, 202112
- PresidentAndrew J. Ritter Jun 24, 2015 to May 19, 202017
- Chief financial officerChristopher L. Lotz May 27, 2020 to Aug 4, 202218
- Chief financial officerJohn W. Beck May 25, 2018 to May 19, 202019
- Chief financial officerSamuel O. Lynn Jun 24, 2015 to Jun 24, 201520
- Chief operating officerShishir K. Sinha Aug 4, 2022 to Aug 4, 202221
Board members and other officers (24)
- SVP/Chief Medical OfficerTariq Arshad May 17, 2021 to Aug 4, 202222
- Vice President of OperationsShishir K. Sinha May 27, 2020 to Jun 8, 202023
- VP, R&D, CSOWajdi Abdul-Ahad May 27, 2020 to Aug 4, 202224
- Executive VP, CSOAmy S. Broidrick Dec 29, 2020 to Apr 26, 202125
- COB, CSOIra E. Ritter Feb 8, 2019 to May 19, 202026
- VP of FinanceJeffrey S. Benjamin Oct 23, 2017 to Jan 25, 201827
- VP, FinanceEllen F. Mochizuki Sep 30, 2015 to Jan 27, 201728
- Board memberJason Evan Dodier Aug 26, 2026 to now29
- Board memberCody Price Jul 25, 2024 to Jul 25, 202430
- Board memberCampbell Becher Aug 9, 2024 to Aug 9, 202431
- Board memberLichti Braeden Oct 17, 2024 to Oct 17, 202432
- Board memberGraydon Bensler Nov 15, 2024 to Nov 15, 202433
- Board memberKurt H. Kruger May 27, 2020 to Aug 4, 202234
- Board memberMatthew E. Korenberg May 27, 2020 to Aug 4, 202235
- Board memberAmy S. Broidrick Aug 28, 2020 to Aug 4, 202236
- Board memberSidney W. Emery Jr. Dec 7, 2020 to Aug 4, 202237
- Board memberIra E. Ritter Feb 8, 2019 to Aug 4, 202226
- Board memberWilliam M. Merino Feb 1, 2017 to Jan 17, 202038
- Board memberAndrew J. Ritter Jun 24, 2015 to May 19, 202017
- Board memberGerald T. Proehl Jun 24, 2015 to Jan 25, 201839
- Board memberMatthew W. Foehr Jun 24, 2015 to Apr 23, 202040
- Board memberMichael D. Step Jun 24, 2015 to Jan 25, 201814
- Board memberNoah Doyle Jun 24, 2015 to Mar 16, 202041
- Board memberPaul Maier V. Jun 24, 2015 to Jan 17, 202042
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
Timeline
- Oct 14, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure44
- Sep 29, 20268-K Other events45
- Sep 29, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure46
- Aug 26, 20268-K Executive or director change47
- Aug 18, 20268-K Regulation FD disclosure48
- Aug 7, 20268-K Results of operations; Regulation FD disclosure49
- Jul 31, 20268-K Entered a material agreement50
- Jun 23, 20268-K Regulation FD disclosure51
- Jun 17, 20268-K Entered a material agreement; Unregistered sale of shares52
- May 28, 20268-K Executive or director change; Other events53
- May 14, 20268-K Entered a material agreement54
- May 12, 20268-K Results of operations; Regulation FD disclosure55
- May 27, 2020New chief executive Michael S. Poirier becomes CEO12
- Jun 27, 2018New chief executive Andrew J. Ritter becomes CEO13
- Jun 24, 2015New chief executive Michael D. Step becomes CEO14
Calendar
Coming up
- Nov 13, 2026Reports results for the quarter ending Sep/202656
When it reported results
- Aug 7, 2026Reported quarterly or annual results49
- May 12, 2026Reported quarterly or annual results55
- Mar 27, 2026Reported quarterly or annual results57
- Aug 15, 2023Reported quarterly or annual results58
- Aug 16, 2022Reported quarterly or annual results59
- May 13, 2022Reported quarterly or annual results60
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
231 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 95 major events, 24 insider forms, 8 large holders, 2 private raises, 79 other. The latest 20:
- Oct 14, 20268-K EDGAR
- Sep 29, 20268-K EDGAR
- Sep 29, 20268-K EDGAR
- Sep 14, 2026EFFECT EDGAR
- Sep 14, 2026424B3 EDGAR
- Sep 9, 2026S-1/A EDGAR
- Sep 4, 2026DEF 14C EDGAR
- Sep 4, 2026S-1/A EDGAR
- Aug 26, 20268-K EDGAR
- Aug 26, 20263 EDGAR
- Aug 24, 2026PRE 14C EDGAR
- Aug 18, 2026S-1/A EDGAR
- Aug 18, 20268-K EDGAR
- Aug 7, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Jul 31, 20268-K EDGAR
- Jul 27, 2026S-1 EDGAR
- Jul 16, 202610-K/A EDGAR
- Jun 23, 20268-K EDGAR
- Jun 17, 20268-K EDGAR
The 231 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 22, 2022 | Poirier Michael S.Chairman and CEO | Buy | 30,000 | $0.57 | $17.1K | Form 4 |
| Jun 14, 2022 | BROIDRICK AMY S.President/CSO | Buy | 30,000 | $0.62 | $18.6K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ALPHA CAPITAL ANSTALTSCHEDULE 13G/A, 4 filings May 27, 2022 to Jan 29, 202661
- FARADAY FUTURE INTELLIGENT ELECTRIC INC.SCHEDULE 13D/A, 2 filings Nov 12, 2025 to Nov 19, 202562
- SABBY MANAGEMENT, LLCSC 13G/A, 2 filings Dec 6, 2021 to Jan 5, 202263
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2024 | Michael PoirierFormer Chairman and Chief Executive Officer | $482.1K | $511.1K64 | |
| 2024 | Christopher LotzFormer Chief Financial Officer | $257.4K | $302.4K64 | |
| 2024 | Kevin A. Richardson IICo-Chief Executive Officer and Director | 57 | $90.9K64 | |
| 2023 | Michael PoirierFormer Chairman and Chief Executive Officer | $512.6K | $632.7K64 | |
| 2023 | Christopher LotzFormer Chief Financial Officer | $267.5K | $343.4K64 |
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 246,388 | $290.7K | 0.0% | +232,028 |
| Geode Capital Management, LLC | 130,763 | $154.3K | 0.0% | +60,285 |
| Vanguard Fiduciary Trust Co | 105,135 | $124.1K | 0.0% | New |
| Citadel Advisors LLC | 66,690 | $78.7K | 0.0% | New |
| Northern Trust Corp | 19,906 | $23.5K | 0.0% | New |
| BlackRock, Inc. | 501 | $591 | 0.0% | No change |
| Barclays PLC | 444 | $524 | 0.0% | New |
| Harbour Investments, Inc. | 325 | $384 | 0.0% | No change |
| HighMark Wealth Management LLC | 160 | $188 | 0.0% | No change |
| Group One Trading LLC | 8 | $9 | 0.0% | No change |
| SBI Securities Co., Ltd. | 6 | $7 | 0.0% | No change |
| Physician Wealth Advisors, Inc. | 2 | $3 | 0.0% | No change |
| Caitong International Asset Management Co., Ltd | 2 | $2 | 0.0% | +1 |
| Danske Bank A/s | 1 | $1 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How FF EAI Robotics Ecosystem Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFF EAI Robotics Ecosystem Inc.1
- CIK0001460702
- Employer ID (EIN)26-34745273
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address1990 E. Grand Avenue, El Segundo, CA 902451
- Phone(760) 918-91651
- Shares outstanding20,234,993 as of Aug 7, 20269
- Public float$5.6M as of Jun 30, 20253
- AuditorHTL International, LLC, Houston, Texas PCAOB ID 100; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceMar 17, 20091
- Filings657 in all: 8-K (178), 4 (110), CORRESP (45), 3 (35), 10-Q (34), UPLOAD (27), S-1/A (21), EFFECT (20)1
All 51 form types
425 (16), SC 13G/A (13), DEF 14A (12), SC 13G (12), S-1 (11), 10-K (10), 424B3 (10), 424B5 (10), D (9), DEFA14A (8), S-8 (8), PRE 14A (6), S-3 (6), FWP (5), 10-K/A (4), 8-K/A (4), NT 10-K (4), POS AM (4), S-4/A (4), 424B4 (3), SCHEDULE 13G/A (3), D/A (2), DEL AM (2), SC 13D/A (2), 10-KT (1), 3/A (1), 4/A (1), 8-A12B (1), ARS (1), CERTNAS (1), DEF 14C (1), DRS (1), NT 10-Q (1), PRE 14C (1), PRER14A (1), REGDEX (1), RW (1), S-1MEF (1), S-4 (1), S-4MEF (1), SC 13D (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)
- Latest filingsAnnual report (10-K) Mar 30, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Dec 15, 2025
Latest 8-K (8-K) Oct 14, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | AIXC | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks FF EAI Robotics Ecosystem Inc. names in Item 1A of its 10-K filed Mar 30, 2026: 39 risks under these headings, as written.3
- Risks Related to Our Business
- We have a history of negative cash flows and will require additional financing to execute our business strategy.
- We are in an early-stage development phase under our current business model.
- Our future growth may be limited.
- Our customer-facing platforms may not achieve user adoption or generate revenue.
- Our software development efforts may be delayed, exceed budget, or fail to perform as intended.
- Our AI Blockchain platform is internally developed and may not function as intended.
- We are exposed to significant digital asset price volatility.
- The regulatory environment surrounding digital assets, tokenization, and AI-enabled financial tools is evolving and uncertain.
- Our platforms could be subject to regulatory classification that imposes additional obligations.
- We depend on third-party service providers for technology infrastructure and digital asset custody.
- Our business and operations could suffer in the event of computer system failures, cyberattacks, or deficiencies in our cybersecurity.
The other 28 risks
- Our “C10” Treasury strategy subjects our financial condition to extreme market volatility.
- Concentration of Control and Sole Custody of Digital Assets May Expose the Company to Significant Financial and Operational Risks
- We have in the past, and may in the future, enter into partnerships, collaborations, joint ventures, or strategic alliances with third parties. If we are unsuccessful in establishing or maintaining strategic relationships with these third parties or if these third parties fail to deliver certain services, our business, operating results, and financial condition could be adversely affected.
- The future development and growth of crypto is subject to a variety of factors that are difficult to predict and evaluate. If crypto does not grow as we expect, our business, operating results, and financial condition could be adversely affected.
- We operate in a highly competitive industry and we compete against unregulated or less regulated companies and companies with greater financial and other resources, and our business, operating results, and financial condition could be adversely affected if we are unable to compete effectively.
- If we cannot keep pace with rapid industry changes to provide new and innovative products and services, the use of our products and services, and consequently our net revenue, could decline, which could adversely affect our business, operating results, and financial
- A particular crypto asset, product or service’s status as a “security” in any relevant jurisdiction is subject to a high degree of uncertainty and if we are unable to properly characterize a crypto asset or product offering, we may be subject to regulatory scrutiny, inquiries, investigations, fines, and other penalties, which could adversely affect our business, operating results, and financial condition.
- The theft, loss, or destruction of private keys required to access any crypto assets held in custody for our own account. If we are unable to access our private keys or if we experience a hack or other data loss relating to our ability to access any crypto assets, it could cause regulatory scrutiny, reputational harm, and other losses.
- Due to our limited operating history, it may be difficult to evaluate our business and future prospects, and we may not be able to achieve or maintain profitability in any given period.
- Key business metrics and other estimates are subject to inherent challenges in measurement and change as our business evolves, and our business, operating results, and financial condition could be adversely affected by real or perceived inaccuracies in those metrics or any changes in metrics we disclose.
- We may suffer losses due to abrupt and erratic market movements.
- Adverse economic conditions could adversely affect our business.
- If we fail to maintain an effective system of disclosure controls and procedures and internal control over our financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
- We may require additional capital to support business growth, and this capital might not be available.
- Pending SEC Enforcement Actions Against Our Co-CEO, Chief Advisor, and Lead Investor Could Materially Disrupt Our Operations and Restrict Access to Our Treasury Assets.
- We have been involved, and may continue to be involved, in disputes, claims or proceedings arising from our operations or class actions from time to time, which could result in significant liabilities and reputational harm and could materially and adversely affect our business, financial condition and results of operations
- Risks Related to Our Intellectual Property
- If we are unable to obtain, maintain, and enforce adequate intellectual property protection for our core technologies, our competitors could develop and commercialize similar products, which would materially and adversely affect our business.
- Claims by third parties that we infringe upon their intellectual property rights could be costly, time-consuming, and materially and adversely affect our business.
- We heavily rely on trade secrets and confidentiality agreements to safeguard our competitive advantage, and these measures may not adequately protect our proprietary information.
- Limitations on intellectual property protection in certain jurisdictions outside the United States could adversely affect our global competitive position.
- General Risks
- The requirements of being a public company may strain our resources and divert management’s attention.
- Periods of rapid growth and expansion could place a significant strain on our resources, including our employee base, which could negatively impact our operating results.
- Macroeconomic and financial market disruptions may adversely affect our liquidity, operations, and results.
- Heightened public scrutiny and negative publicity could damage our reputation and adversely affect our business and prospects.
- Certain data and information in this Annual Report were obtained from third-party sources and were not independently verified by us.
- Risks Related to the Ownership of Our Securities
- We have a large number of authorized but unissued shares of our common stock which will dilute existing ownership positions when issued.
- Our common stock may be affected by limited trading volume and price fluctuations, which could adversely impact the value of our common stock.
- We may need, but be unable, to obtain additional funding on satisfactory terms, which could dilute our stockholders or impose burdensome financial restrictions on our business.
Legal proceedings
From time to time, we are involved in lawsuits, claims, investigations, and proceedings, including pending opposition proceedings involving patents that arise in the ordinary course of business.
On January 29, 2025, the Company was named as a defendant in an action brought by LifeSci Capital LLC (“LifeSci”) in the U.S. District Court for the Southern District of New York. The complaint alleges that the Company failed to pay $503,483 in connection with offerings of the Company’s common stock that occurred during the tail period of the agreement, pursuant to an engagement under which the Company retained LifeSci to serve as its placement agent and financial advisor.
The Company filed its answer on March 17, 2025, denying the material allegations in the complaint and asserting various affirmative defenses. On October 9, 2025 the matter was settled out of court and the Company agreed to pay Lifesci $75,000 to settle the outstanding claim, which was paid in October 2025.
The results of any future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARIra E. Ritter, Chair
- 16SEC EDGARAmy S. Broidrick, President
- 17SEC EDGARAndrew J. Ritter, President
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- 24SEC EDGARWajdi Abdul-Ahad, VP, R&D, CSO
- 25SEC EDGARAmy S. Broidrick, Executive VP, CSO
- 26SEC EDGARIra E. Ritter, COB, CSO
- 27SEC EDGARJeffrey S. Benjamin, VP of Finance
- 28SEC EDGAREllen F. Mochizuki, VP, Finance
- 29SEC EDGARJason Evan Dodier, Board member
- 30SEC EDGARCody Price, Board member
- 31SEC EDGARCampbell Becher, Board member
- 32SEC EDGARLichti Braeden, Board member
- 33SEC EDGARGraydon Bensler, Board member
- 34SEC EDGARKurt H. Kruger, Board member
- 35SEC EDGARMatthew E. Korenberg, Board member
- 36SEC EDGARAmy S. Broidrick, Board member
- 37SEC EDGARSidney W. Emery Jr., Board member
- 38SEC EDGARWilliam M. Merino, Board member
- 39SEC EDGARGerald T. Proehl, Board member
- 40SEC EDGARMatthew W. Foehr, Board member
- 41SEC EDGARNoah Doyle, Board member
- 42SEC EDGARPaul Maier V., Board member
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- 45SEC EDGAROther events
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- 47SEC EDGARExecutive or director change
- 48SEC EDGARRegulation FD disclosure
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- 50SEC EDGAREntered a material agreement
- 51SEC EDGARRegulation FD disclosure
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- 54SEC EDGAREntered a material agreement
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- 56NasdaqNasdaq calendar
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